Cryptocurrency Mass Adoption Market Manipulation Micro Cap Fraud

An unusual
and suspicious pump and dump scam are seen in the trading pattern of
Chainlink. This is considered to be an
attempt to manipulate the cryptocurrency price. However, the company has denied
a role in the alleged manipulation, further stated that the cryptocurrency
trading is not within control.

Pump and
dump is a kind of microcap fraud where an asset type with a low price is
manipulated by high volume purchases by a group of coordinated buyers. This is a method used to trigger artificial
inflation. This kind of investment is
usually followed by several investors who are not aware of the manipulation;
eventually, investors follow the buying with a high price.

Victor
Fang, CEO of AnChain.ai, stated, “We are confident that our research is
illustrative of artificial market manipulation as it involves a small number of
addresses accounting for a hugely disproportionate transaction volume over a
short period of time, and that these transactions were subject to various forms
of obfuscation and concealment atypical of legitimate market activity.”

Every
token goes through an effect when it starts trading on a new exchange. When it comes to moving forward, due
diligence is required to sustain the ecosystem moving forward. Regulation should become the center of the
conversation if cryptocurrency thrived.
Market manipulation of this kind will leave a negative impact on the
image of the cryptocurrency in the mainstream media. Therefore, the cryptocurrency market is
geared towards making integrity as a significant priority.

Whether
mass adoption has taken place is a matter of debate in the cryptocurrency
space. Experts have their say about mass
adoption and its start.

The
start of mass adoption occurs when banks, giant retailers, social media, and
tech giants are involved in investing in the crypto. Institutions, governments, and Central Banks
force the start of mass adoption.

Mass
adoption is specific for use cases.
There is a difference between mass adoption as a payment method and mass
adoption as a store of value. Other
kinds of mass adoption include smart contracts and NFTs [Nonfungible Tokens].

While
we are not anywhere near mass adoption, we have passed the point of collective
awareness. Majority of the people have
at least heard of mass adoption. When
10% of the populations have begun to use it, then it can be called the start of
mass adoption. Use of cryptocurrency would become an ordinary course and would
not any longer be a point of discussion. For all this to happen, mass adoption
businesses and individuals should be able to transact using the crypto.

About The Author

Steven is an explorer by heart – both in the physical and the digital realm. A traveler, Steven continues to visit new places throughout the year in the physical world, while in the digital realm has been instrumental in a number of Kickstarter projects. Technology attracts Steven and through his business acumen has gained financial profits as well as fame in his business niche.